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07/01/2020
Country risk and economic studies

All the News

07/01/2020
Corporate news

Coface finalises the acquisition of GIEK Kredittforsikring AS

Coface announces the closing of the acquisition of GIEK Kredittforsikring AS, a company that manages a short-term export credit insurance portfolio.

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06/23/2020
Country risk and economic studies

Are corporate balance sheets in Spain and Italy ready for the COVID-19 shock?

Although the second quarter of 2020 is shaping up to be the most challenging period of the year, there are now good reasons to think that the road to recovery will be long and arduous. Despite immediate tax deferrals, liquidity guarantees, it is likely that many firms will find themselves in difficulty.

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05/29/2020
Corporate news, Financial news

Coface Canada Positioned to Support Canadian Businesses with Additional Credit Capacity

In the context of Covid-19 crisis, Coface Canada is pleased to announce their participation in the extended Trade Partnership Insurance (TPI) powered by EDC (Export Development Canada). This agreement is the result of the strong collaboration between the Government of Canada, Export Development Canada (EDC) and the Receivables Insurance Association of Canada (RIAC).

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05/20/2020
Corporate news

COFACE engages to support Belgian companies alongside the state

During the current, unprecedented health and economic crisis, the Belgian government, in collaboration with credit insurers, is setting up a reinsurance program to sustain the economy during this difficult period.

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04/17/2020
Corporate news

Coface supports protection shield for German companies

Together with the credit insurers, the German government is setting up a protective shield to support the economy in these difficult times.

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04/14/2020
Country risk and economic studies

Can China shield its economy from the impact of COVID-19?

Due to the current coronavirus (COVID-19) pandemic and its impact on the global economy, it is unlikely that China will be able to achieve its 2020 growth target. Coface forecasts a growth rate of 4% for the Chinese economy in 2020.

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04/06/2020
Country risk and economic studies

Coface Barometer: COVID-19 - heading towards a sudden global surge in business insolvencies

At first, the COVID-19 epidemic in China only affected a limited number of value chains – but it has since turned into a global pandemic. Its repercussions have created a double shock – supply and demand – that is affecting a large number of industries in all over the world.

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04/01/2020
Corporate news

COFACE SA: Announcement regarding the dividend

COFACE SA’s Board of Directors met on 1st April 2020 to look at the group’s activity in the current economic environment.

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03/31/2020
Corporate news

Fitch places Coface on Rating Watch Negative

The rating agency Fitch has, on 31 March 2020 placed Coface on Rating Watch Negative. This includes Coface’s Insurer Financial Strength (IFS) rating.

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03/27/2020
Corporate news

Review of the credit insurance sector by Moody's

The rating agency Moody's confirmed Coface’s Insurance Financial Strength (IFS) A2 rating on 27 March 2020. The outlook for this rating has been changed to negative.

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03/18/2020
Corporate news

Ruben Nizard Joining Coface North America in the Role of North American Economist

Coface North America is pleased to announce that Ruben Nizard has joined our Organization in the role of Economist for the North American Region including U.S.A. and Canada. Ruben in his new role will be responsible for providing in depth analysis of the North American economy, including analysis of impacts caused by current trends and global economic influences.

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02/25/2020
Corporate news

Coface capitalizes on its strategic successes and launches Build to Lead, its new 2023 strategic plan

Build to Lead will broaden and deepen the business and cultural transformation initiated in Fit to Win. In particular the new plan will: Continue to strengthen risk management and underwriting discipline; Improve service, and commercial and operational efficiency; Invest in select growth initiatives in trade credit insurance as well as in specialty lines; Maintain balance sheet strength.

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02/25/2020
Corporate news

COFACE SA: Shareholding evolution

COFACE SA (“COFACE”) acknowledges the announcement made today by Natixis of its sale of 29.5% of the share capital of COFACE to Arch Capital Group Ltd (“Arch”) as well as Arch’s affirmed support of COFACE’s current management and of its new 2023 strategic plan Build to Lead.

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02/24/2020
Corporate news

AM Best assigns A (Excellent) rating to Compagnie française d'assurance pour le commerce extérieur and to Coface Re SA

Rating agency AM Best has assigned a Financial Strength Rating (FSR) of A (Excellent) to Compagnie française d'assurance pour le commerce extérieur (la Compagnie) and to Coface Re. Both ratings have a stable outlook. The agency has also affirmed the FSR of Coface North America Insurance Company (CNAIC) to A (Excellent). The outlook remains stable.

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02/06/2020
Country risk and economic studies

Political and environmental risks are the main threats facing businesses in 2020

As Coface launches the 2020 edition of its Country & Sector Risks Handbook, Chief Economist Julien Marcilly today presents the main threats for the global economy in 2020 at the Coface Country Risk Conference in Paris. The US-China trade agreement will not be enough to rekindle international trade.

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02/05/2020
Corporate news

FY-2019 results: Record net income up 20% at €146.7m and proposed dividend per share of €1.0

We have completed our Fit to Win plan with record results, despite a riskier economic environment. Our net income is up by 20%, to €147m. The tangible return on equity comes in at 9.1%, excluding non-recurring items. Record retention and a pick-up in new business boosted growth to 5.9%. Finally, in terms of capital, the French regulator authorized our usage of our internal model to calculate the solvency requirement. Our solvency ratio stands at 190%, up 21 points, which allows us to propose a payment of a dividend of €1.0 per share to the Shareholders Annual General Assembly.

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12/04/2019
Corporate news

COFACE SA: Partial Internal Model approved - Solvency ratio at 187%* as of 31 December 2018

COFACE SA announces that it has received authorisation from the French Prudential Supervision and Resolution Authority (ACPR) to use the group’s Partial Internal Model for calculating its regulatory capital requirement under the Solvency II Directive as soon as at 31 December 2019.

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11/19/2019
Corporate news, Product news

Broker Portal, Coface’s new digital interface for its brokers

Coface launches its new portal for brokers, offering a new experience to its partners in the development of their business around the world.

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10/23/2019
Corporate news

Coface reports strong third quarter

Coface recorded yet another strong quarter despite an economic context that has continued to deteriorate in line with our expectations. Our strong performance illustrates the effectiveness of the transformation we have implemented within Coface over the past three years, which has notably resulted in the significant improvement of our risk management processes. Commercial momentum was positive this quarter, as new business is continuing to grow whereas our clients’ activity is slowing down. We are maintaining our selective underwriting policy, which is now bearing fruit in a more volatile environment.

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07/25/2019
Corporate news

Coface delivers record first semester in riskier economy

Net income up 25% at €78.5m, RoATE at 9.6% and Partial Internal Model submitted

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